Cement News tagged under: international
New capacities in South may dampen prices, India20 March 2009, Published under Cement NewsCement prices in the South may come under pressure with 12.3Mt of additional capacity scheduled to go on-stream by 2009-end, the Hindu Business Line reports. Companies contributing to the increase in capacity are Dalmia Cement, India Cements, Madras Cements, UltraTech Cement and ACC. Small cement mills in Andhra Pradesh are also on course with their expansion programmes, which will further add to oversupply. Though new capacities are added, it takes at least 6-10 months for new plants to sta... |
Lafarge WAPCO posts N12.1bn net profit in 200820 March 2009, Published under Cement NewsLafarge Cement, WAPCO Nigeria Plc., Wednesday declared a N12.1bn profit after tax for the year 2008 representing an increase of 15 per cent over that of 2007. Announcing the results, Mr. Emmanuel Oloruntoki, Finance Director, Lafarge Cement, WAPCO Nigeria noted that the operating result of the year was adversely affected by several outages in the supply of power and natural gas to the company’s plants which necessitated the use of imported clinker. He however pointed out that despite this c... |
Ireland’s CRH gets 94 per cent rights issue acceptances20 March 2009, Published under Cement NewsCRH said on Thursday that around 94 per cent of eligible shareholders have accepted the company’s 2-for-7 rights issue offer. The Irish company raised EUR1.28bn (US$1.73bn) in the fully underwritten issue, giving it ammunition for acquisition opportunities created by a squeeze on rivals in the sector. ’The takeup is very encouraging. It’s a vindication of the company’s strategy. They have the war chest now so we would expect to see them buy a couple of long-term assets at discounted prices... |
Cementir’s pre-tax profit halved20 March 2009, Published under Cement NewsCementir’s turnover declined by 4.8% in 2008 to €1,092.2m, with the EBITDA falling by 23.7% to €209.2m. Capital investments to increase the capacity at the Erdine works in Turkey and at the Sinai Cement white cement plant in Egypt were completed during the year, giving rise to a higher depreciation charge, while some volumes and prices declined, giving rise to a 35.1% fall in the trading profit to €128.1m and reduced investment income and a sharply higher net interest charge saw the pre-tax... |
US Cement shipments down 31% in January19 March 2009, Published under Cement NewsUS Geological Survey preliminary data for January 2009 cement shipments were released on the 18 March. The data indicated that US cement shipments in January were 30.6% lower than in January 2008. This was the 32nd successive month where shipments were lower than in the same month in the previous year. However, the rate of decline increased in January, from -18.7% in December. Amongst the larger states, shipments declined in January in Michigan (-56%), Florida (-40%), Arizona (-39%), Georg... |
QNCC lifts output to meet local need19 March 2009, Published under Cement NewsQatar National Cement Company (QNCC) has boosted production of cement in line with its policy of meeting increasing local market needs. QNCC chairman and managing director Salem bin Butti al-Naimi said the company produced about 3.8Mt of ordinary portland cement and sulphate resistant cement last year: up 58% on 2007. Output stood at 2.4Mt in 2007, al-Naimi said at the company’s annual general assembly meeting yesterday. Al-Naimi said, “We successfully responded to the growing demand in th... |
Cement firms pin hopes on reconstruction19 March 2009, Published under Cement NewsHard-pressed by fierce competition from hundreds of small producers in central China and the prosperous coastal regions, several large cement makers are investing heavily in the western region in anticipation of strong demand arising from the government-led reconstruction of the areas stricken by the earthquake on May 12, 2008. Shenzhen-listed Tangshan Jidong Cement said it has invested in two new production facilities in Southwest China’s Chongqing municipality, while Hubei-based Huaxin Ce... |
Spain and Turkey depress Cimpor ’s results19 March 2009, Published under Cement NewsHelped by the initial consolidation of India and an additional six months from China, Cimpor’s turnover advanced by 6.2% last year to €2,088.9m, though the EBITDA was off by 3.4% to €586.3m. The trading profit declined by 10.4% to €392.6m and after an almost tripled net financial charge of €134.4m the pre-tax profit fell by 33.8% to €258.3m. Thanks to lower tax and minorities charges, the net attributable profit was a more modest 27.8% lower at €219.4m. Net debt at the end of the year was... |
Cement demand to fall for first time in 25 years19 March 2009, Published under Cement NewsLafarge is forecasting a contraction in demand for cement globally this year – the first in 25 years – due to the global financial crisis and economic slowdown. Chairman and chief executive officer Bruno Lafont expects cement consumption worldwide to drop by up to 3% this year as the economic slowdown takes a toll on construction and infrastructure activities globally. “However, to be conservative, we did not take much into account the economic stimulus packages that have been announced by... |
Dyckerhoff plans investments in Ukrainian unit18 March 2009, Published under Cement NewsDyckerhoff plans to invest EUR 300m (US$88.6m) in the upgrade of its Ukrainian plant Volyn Cement in the town of Zdolbuniv in the western Rivne region, the town’s authorities said on Tuesday. The modernisation, slated for completion at the beginning of 2010, is aimed at switching to coal from natural gas usage. The upgrade also envisages the introduction of semi-dry technology for and a packaging line. Volyn-Cement has the capacity to produce some 2Mta of cement. |